Flash CS5 will allow the development of iPhone apps, as Adobe demonstrates:
http://labs.adobe.com/technologies/flashcs5/appsfor_iphone/
TechCrunch report on Adobe MAX event, where this was announced:
http://www.techcrunch.com/2009/10/05/adobe-shows-off-flash-apps-for-iphone-yes-you-read-that-right/
It’s not a Flash plug-in for iPhone, but a very nice workaround…
Wired article on the subject:
http://www.wired.com/gadgetlab/2009/10/iphone-flash
Related news:
Adobe Gives Up on iPhone App Development After CS5
http://mashable.com/2010/04/21/adobe-gives-up-flash-iphone/